Bloomberg is launching its own luxury listings section on its Pursuits website, which includes a mix of news and lifestyle content.
Visitors who scroll down the page will eventually land on a section titled “Luxury Properties for Sale.” The section launched Tuesday and, for the next 30 days, will exclusively feature listings from Sotheby’s International Realty.
After that, other brokerage’s listings will appear on the site.
Kevin Thompson, chief marketing officer at Sotheby’s International Realty, told Inman that the new marketplace and exclusive deal happened after Bloomberg approached the real estate firm about a potential partnership.
Sotheby’s International Realty jumped at the opportunity because, Thompson said, it represented a chance to reach “the most highly qualified and influential homebuyers in the world.”
“We’re constantly seeking out opportunities to connect with them in more meaningful ways,” he added.
Thompson also said that Sotheby’s International Realty is paying for the partnership as part of its syndication and marketing efforts.
In addition to the exclusive listing agreement, Sotheby’s International Realty also has an advertising deal that will involve “custom ad showcases and native advertising across Bloomberg.com,” according to a statement. Thompson said that the advertising deal will continue on for 60 days even after the exclusive listing agreement ends.
Sotheby’s International Realty is a franchise of Realogy, and has 990 offices spread across the world. The brand focuses on luxury properties and describes itself as uniting “connoisseurs of life with their aspirations through a deeply connected global network of exceptional people.”
In 2018, Sotheby’s International Realty closed more than $112 billion in sales volume, a record for the company. And in March it consolidated its leadership under CEO Phillip White.
Though the new marketplace with Bloomberg only debuted this week, Thompson said that the response from the firm’s offices has already been positive.
“We want to be pushing the envelope with our partners all the time,” he added, “and this is just a great example of how we do that.”
Inman reached out to Bloomberg for more information on the new listings marketplace but did not receive a comment in time for this article’s publication.